Columbia Partners L L C Investment Management reduced its position in shares of Verizon Communications Inc. (NYSE:VZ) by 68.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,838 shares of the cell phone carrier’s stock after selling 20,968 shares during the period. Columbia Partners L L C Investment Management’s holdings in Verizon Communications were worth $479,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Cobblestone Capital Advisors LLC NY boosted its stake in Verizon Communications by 0.3% in the first quarter. Cobblestone Capital Advisors LLC NY now owns 19,401 shares of the cell phone carrier’s stock worth $946,000 after buying an additional 50 shares during the period. Truepoint Inc. boosted its stake in Verizon Communications by 0.7% in the first quarter. Truepoint Inc. now owns 8,284 shares of the cell phone carrier’s stock worth $404,000 after buying an additional 55 shares during the period. One Capital Management LLC boosted its stake in Verizon Communications by 0.6% in the first quarter. One Capital Management LLC now owns 8,702 shares of the cell phone carrier’s stock worth $424,000 after buying an additional 56 shares during the period. Miles Capital Inc. boosted its stake in Verizon Communications by 1.7% in the fourth quarter. Miles Capital Inc. now owns 4,871 shares of the cell phone carrier’s stock worth $260,000 after buying an additional 81 shares during the period. Finally, Horrell Capital Management Inc. boosted its stake in Verizon Communications by 0.4% in the first quarter. Horrell Capital Management Inc. now owns 27,260 shares of the cell phone carrier’s stock worth $1,329,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 62.33% of the company’s stock.
Verizon Communications Inc. (NYSE VZ) traded down 0.42% during midday trading on Friday, hitting $47.69. 16,919,130 shares of the stock traded hands. Verizon Communications Inc. has a 12-month low of $42.80 and a 12-month high of $54.83. The firm’s 50 day moving average is $46.01 and its 200-day moving average is $47.29. The stock has a market capitalization of $194.55 billion, a PE ratio of 12.26 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. During the same quarter last year, the business earned $0.94 earnings per share. Verizon Communications’s revenue was up .1% on a year-over-year basis. On average, analysts anticipate that Verizon Communications Inc. will post $3.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend was Thursday, July 6th. Verizon Communications’s payout ratio is currently 59.23%.
A number of analysts have recently weighed in on VZ shares. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research note on Saturday, June 17th. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of Verizon Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Moffett Nathanson upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating in a research note on Tuesday, May 30th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $48.00 price objective on shares of Verizon Communications in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and a consensus price target of $52.73.
In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $45.34, for a total value of $27,657.40. Following the transaction, the executive vice president now owns 9,039 shares in the company, valued at $409,828.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,830 shares of company stock worth $84,229 in the last 90 days. 0.13% of the stock is owned by company insiders.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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